Mound Community Development Corporation
In the fall of 1999, OMDC partnered with First Tennessee Housing Corporation (FTHC) and First Tennessee National Bank to acquire and develop the Commons at Brentwood, a newly constructed, modern, eighty-unit apartment community, featuring well-planned two and three bedroom apartment homes for families at or below 60% of the median area income. The Commons in Brentwood was placed into operation in 2002.
OMDC became a sub-recipient of a HUD Counseling grant in September 2003. After several years of housing development with sufficient staff, OMDC experienced a reduction in staff in the beginning of 2005. Determined to continue the much needed work within the community, the reduced staff focused on education, youth and community awareness campaigns. The Staff began to strengthen meaningful partnerships to continue the enhancement of the quality of life for residents of Orange Mound. Those partners included the University of Memphis (CBANA), Hanley and Dunbar Elementary, Melrose High School, as well as community organizations, businesses, and churches. Through these partnerships OMDC was able to address pressing issues within the community.
In 2005, OMDC forged a partnership within Bank of America to provide Homebuyer Education to potential homebuyers. During the same year, OMDC was fortunate to become an approved counseling agency for Tennessee Housing Development Agency. In 2006, OMDC hired bilingual staff to assist with the homebuyer education of the growing Hispanic population within the Memphis area.
More recently OMDC has expanded its relationship with SEEDCO through an agreement to participate in the National Foreclosure Mitigation Counseling program offered by NeighborWorks of America. OMDC continues these healthy relationships to date and has counseled over one thousand (1000) families on rental counseling, pre/post-purchase counseling, mortgage default counseling, and foreclosure prevention.
Homebuyer Education- Pre & Post Counseling- Homebuyer education and post purchase counseling both help prepare first time homebuyers for the home purchasing process and the responsibilities of homeownership. OMDC offers individual counseling for homebuyers. Topics include: credit reviews, credit repair, debt reduction, and default/ foreclosure prevention. OMDC also assists homebuyers in developing a personal purchase plan.
Please contact us about housing availability